Harbinger Partners is the latest Minnesota tech company to implement the ESOP method of ownership liquidity and transfer.

According to our article underwriter, Redpath & Company, the employee stock ownership plan (ESOP) is a qualified defined-contribution employee benefit plan designed to invest primarily in the stock of the sponsoring employer, ultimately providing employees with a beneficial ownership interest in the company.

Here’s what Harbinger’s founder and CEO Scott Grausnick has to say about it: